AI to lease out Mumbai office space, sell idle planes

SummaryAir India has stepped up its attempts to monetise its unused assets like office space in Mumbai and Boeing 777-200LR aircraft that are lying idle after taking delivery of the more fuel-efficient Boeing 787 Dreamliners.

Air India has stepped up its attempts to monetise its unused assets like office space in Mumbai and Boeing 777-200LR aircraft that are lying idle after taking delivery of the more fuel-efficient Boeing 787 Dreamliners.

After failing to receive good offers earlier this year for leasing out office space in its Nariman Point office building in Mumbai, the carrier has again invited bids for leasing out 1.59 lakh sq ft. This time it has invited bids directly from interested companies, keeping real estate agencies and brokers out of the fray.

“Leasing out the office space will give us a steady cash flow of annual rentals,” said a senior AI official.

The airline also plans to dispose off its Boeing 777-200LR aircraft by inviting bids for selling five of these planes after two failed attempts at trying to ship out the planes on lease. “We will only keep three Boeing 777-200LRs for the NY route,” the official said. “We didn’t get enough offers for leasing so we are trying to sell them.”